Tornator has strong year of timber sales in 2018 – net sales up 11% with - Tornator

Tornator has strong year of timber sales in 2018 – net sales up 11% with

Financial Statement Release, 12 February 2019 at 9:00

SUMMARY 1 Jan – 31 Dec 2018 (1 Jan – 31 Dec 2017)

  • Net sales grew by 11.0%, to €112.8 million, and the balance sheet value reached nearly
  • €1.6 billion
  • Comparable operating profit increased to a record €83.9 million (+16.0%), andhistory
  • comparable net profit, €49.7 million (+21.2%), was equally the best in the company’s
  • The Group’s forest assets grew in value by 5.8%, to €1,451.0 million
  • The company acquired new forestland, some 16,000 hectares in Finland and nearly 4,000 hectares in Estonia
  • The core business, timber sales, had a strong year with net sales of €107.1 million and a volume of some 3.2 million m3
  • The IFRS profit for the period at fair value was €78.9 million, the effect of the change in the value of growing stock being +€32.6 million before taxes
  • Long-term market interest rates declined at the end of the year, which had a negative effect on the fair values of Tornator’s interest rate instruments, with a profit effect of -€1.6 million before taxes
  • Cash flow from operations after financial items and taxes was strong, €68.1 million

For further inormation, please contact:

Sixten Sunabacka, Chief Executive Officer, tel. +358 400 366 148
Henrik Nieminen, Chief Financial Officer, tel. +358 40 869 7613